Increasing Demand for Silicon-Based Scar Treatment Products is a Trend in the Market

Silicon-based products, such as gels and gel sheets, are effective for reducing scars and are recommended by cosmetic surgeons and doctors, globally. These products provide effective results and help in fading away of the scars completely. They are very effective and are used widely for treating all type of scars, including stretch marks, hypertrophic, keloid, acne and post-surgical scars. These products also help in reduction of the size and darkness of the scars. Some of the silicone-based scar removal products available in market include Avosil Scar Care Ointment, Kelo-Cote, Xeragel, Kelo-cote spray, Avogel, Cimeosil, Oleeva, and ScarAway. Since these silicon-based products are more efficient in treating scars and offer advantages over conventional scar treatment products, this is expected to further accelerate the demand of silicon-based scar treatment products and drive the growth of the scar treatment market.

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North America stands as the largest scar treatment market

Geographically, North America was the largest market scar treatment market in 2016 and is expected to contribute 40.5 % by 2023. This dominant position of the region is primarily attributable to high disposable income, which further increases spending on personal care products. Moreover, the increasing appearance consciousness among the population in the region has also led to a rise in the adoption of technologically advanced scar treatment products.

According to the AAD, approximately 85% of the population in the U.S. suffers from acne, every year. The growing awareness about various technologies, which can enhance physical appearance of an individual is driving the demand for advanced scar treatment products in the U.S. The Asian scar treatment market is expected to grow at a faster rate as compared to the other regions, owing to growing focus on personal well-being, increasing disposable income and rising prevalence of skin related problems in the region.

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GLOBAL SCAR TREATMENT MARKET SEGMENTATION
By Type of Treatment
• Topical
• Surface
• Laser
• Injectable
• Invasive surgical
By Type of Scar
• Post-surgical scar
• Acne scar
• Keloid scar and hypertrophic scar
• Contracture scar
• Stretch marks scar
By End User
• Hospital
• Private Clinic
• Pharmacies and drug store
• E-commerce

Source: P&S Intelligence

Antibody Drug Conjugates Therapeutics Market Trends, Share and Future Scope

The global antibody drug conjugates therapeutics market is expected to witness significant growth due to current unmet medical need of some chronic diseases such as cancer and immunological diseases, increasing prevalence of such diseases, advancement in technologies and high demand for safe and effective medication. The regulatory bodies are supporting the ADCs market by providing designations and funding for speeding up the drug development process. In April 2015, ImmunoGen, Inc. drug candidate Mirvetuximab soravtansine got orphan drug designation by European Medicine Agency for the treatment of ovarian cancer.

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ADCs are prepared by linking biologically active cytotoxic drugs to monoclonal antibodies. An ADC comprises of a monoclonal antibody, cytotoxic drug and a linker. ADCs have specific targeting ability of monoclonal antibody, and hence these are capable of distinguishing healthy and diseased cells. Moreover, the cancer-killing ability of cytotoxic drugs makes ADCs more effective against the tumor cells. These characteristics increase the specificity and maximize the efficacy of ADCs. The antibody component of ADCs recognizes the target antigen and binds with it. After binding with the antigen, the cytotoxic component is released inside the tumor cell, causing its death or degeneration. The significant potential of ADCs in cancer treatment has attracted many researchers and healthcare providers to develop new antibody therapeutics using ADC technology.

A large number of pharmaceutical companies are focusing towards research and development of ADCs. However, certain factors such as unknown etiology, complex pathophysiology and high treatment cost of cancer are expected to hamper the growth of the global market during the forecast period.

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Some of the key players operating in the global market are ImmunoGen, Inc., Takeda Pharmaceutical Company Limited, Seattle Genetics, Inc., F. Hoffmann-La Roche AG, BioAtla LLC, Philogen S.p.A., Viventia Biotechnologies, Inc., Sutro Biopharma, Inc., Sorrento Therapeutics, Inc., and Immunobiochem Corporation.

Source: P&S Intelligence

A Recent Study Says Medical Tourism Market Will Make a Huge Impact in near Future

The global medical tourism market is growing significantly due to high cost of healthcare expenditure in developed countries. According to Centers for Disease Control and Prevention, approximately 750,000 U.S. people travel out of the country for medical care each year. In addition, rise in aging population, reduced cost of procedure in developing countries, and high standards of medical care at a reasonable price are expected to support the medical tourism market to grow in the coming years. Aging increases the risk of diseases, such as heart disease, gastrointestinal diseases and lifestyle associated diseases. According to the World Health Organization, the population of 60 years and above is expected to rise to 15% in 2050.

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Moreover, government is taking various initiates to improve healthcare infrastructure and improve healthcare services in developing countries. So, government support and health insurance portability is further expected to support the medical tourism market to grow in the coming years. In addition, trusted international accreditation of clinics and hospitals are also supporting the growth of the global medical tourism market.

Medical tourism refers to travelling to another country for medical treatment. Patients may go for medical care to another country for a range of reason, such as decreased cost, or to receive a procedure or therapy not available in their country. Services ranging from essential treatment to different kind of alternative treatments are provided through medical tourism. Cosmetic surgery, orthopedic surgery, weight loss surgery, heart surgery, oncologic care, reproductive treatment and dental treatment are some of the common procedures that people undergo on medical tourism.

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Medical tourism is promoted in countries such as Taiwan, Malaysia, Brazil, India, Singapore, Turkey, South Korea, and Mexico. India and Malaysia are expected to grow with the highest rate in the coming years, due to improving healthcare infrastructure, high healthcare standards with low cost, highly skilled professionals, cost effective treatment for several diseases, increasing government initiatives to improve medical services and availability of technologically advanced solutions for various conditions. Thailand is the most preferred destination among the Western European tourists for cosmetic surgery, and Singapore is specialized in complex procedures. Moreover, medical tourism in Malaysia is also emerging due to increasing government initiatives to improve medical services.

Some of the hospitals operating in the medical tourism market are Apollo Hospital Enterprise Limited, Asian Heart Institute, Bumrungrad International Hospital, Min-Sheng General Hospital, Min-Sheng General Hospital, KPJ Healthcare Berhad, Bangkok Hospital Medical Center, Fortis Health Ltd., Prince Court Medical Center, Samitivej Sukhumvit, and Raffles Medical Group.

Source: P&S Intelligence

Sleeping Aids Industry Size, Growth rate and Future Analysis

Sleeping aids refer to medicinal drugs and medical devices that help a person to fall asleep. The various offering in sleeping aids market include medication, sleep laboratory services, mattresses and pillows, sleep apnea devices, and others. The global sleeping aids market is projected to grow at a decent pace for the next few year. The market to attain revenue of $101.9 billion by 2023.

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Growing adoption of wearable monitoring devices and sensors is a key trend observed in the global sleeping aids market. These devices help to record and transmit data related to various physiological conditions of patient’s body. These devices are well equipped with sensors, and also serve various functions, such as monitoring sleep disorders, and measuring sleep quality. Some of the wearable monitors and sensors available in the market include Sense Wear Armband by Jawbone, BioHarness by BIOPAC Systems Inc., LifeShirt by Aegis Limited, Zio XT by iRhythm Technologies, Inc., and LifeVest by ZOLL Medical Corporation. These wearable monitors and sensors are easy to use and do not require any special skill to operate them; thus, making them popular among patients suffering from sleep disorders.

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Sleep disorders and comorbid diseases are rising at an alarming rate in developing nations, which has led to increasing investments by government and private organizations on the research and development, to provide better treatment options to the patients in these countries. Governments in developing as well as developed countries are supporting various start-ups working on the control and prevention of sleep-related disorders. Investment in sleep focussed start-ups help them to tailor technologies and provide consumers with accessible sleep monitoring devices, apps and therapies. For instance, in February 2017, Oventus Medical won a $2,950,000 federal government grant to continue research into the growing epidemic of sleep apnea. The grant would focus on innovative technologies which develop an alternative device to CPAP therapy. The grant was awarded under the Cooperative Research Centers (CRC) Programme, within the federal Department of Industry, Innovation and Science.

Source: P&S Intelligence

Biosimulation Technology Market Overview, Share and Growth Drivers 2023

The global biosimulation market is growing significantly due to technological advancements and increasing research and development investment in the pharmaceutical and biotechnology industries. Low success rate of drug approval and emerging software applications of biosimulation technology are creating ample opportunities for the global biosimulation technology market to grow at a significant rate in the forecasted period.The advanced research and development facilities and new product developments by the companies are propelling the demand for cost effective biosimulation software.

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In biosimulation industry, there is a trend of collaboration and partnership of universities and research institutes with suppliers. Drug discovery and development process is stringent, time consuming, and expensive process. In addition, the success rate of drug approval is very low. According to Tufts Centre for the Study of Drug Development, an academic, non-profit research group at Tufts University, in the U.S., out of 1,000 compounds tested only one makes it to human clinical trials, and out of five such compounds only one gets approved. Biosimulation technology overcomes these limitations by simulating biological systems through software models and increasing predictability in early stages of drug development; hence, saving time and money in drug development process.

Biosimulation technology market can be categorized on the basis of applications, end-users, and product types. Based on applications, the biosimulation technology market can be categorized as drug development, drug discovery, and others. Drug development segment includes preclinical testing and clinical trials; whereas, drug discovery segment includes target identification and validation, and lead identification and optimization. Drug development segment leads the biosimulation technology market. Based on end-users, biosimulation technology market can be categorized as pharmaceutical and biotechnology companies, academic institutes and research laboratories, contract research organizations, and others. Pharmaceutical and biotechnology companies lead the biosimulation technology market.

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Geographically, North America will be leading the global biosimulation technology market in the coming years due to technological advancements, growth in biosimilars and biologics market, high healthcare expenditure, and presence of a large number of pharmaceuticals and biotechnology companies. In addition, the U.S. Food and Drug Administration (FDA), strongly recommends simulation process in drug discovery and development; hence, fueling the growth of biosimulation technology market in North America. Europe is the fastest growing region in the global biosimulation technology market. The major reasons for the fastest growth in the region are high healthcare expenditure and increasing research and development activities.

Some of the major players operating in the global biosimulation technology market Dassault Systemes SA, Simulation Plus Inc., Certara USA, Inc., Advanced Chemistry Development, Inc., In Silico Biosciences, Inc., Chemical Computing Group, Inc., Physiomics PLC., Rhenovia Pharma Ltd., Genedata AG, Entelos Holding Corporation, Leadscope, Inc., and Schrodinger Inc. among others.

Source: P&S Intelligence